Billy Foster, PhD

Billy Foster

Clinical Assistant Professor of Economics at

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The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. — John Maynard Keynes, The General Theory of Employment, Interest and Money (1935)

Intermediate Microeconomics

Intermediate Microeconomics
Course number:
UIC – ECON 218


“Ask a physicist how long it would take a bowling ball to land if you dropped it from the roof of your house. He will happily assume that your house is located in a vacuum, and then proceed to calculate the right answer. Ask an engineer to predict the path of a billiard ball after it is struck at a certain angle. He will assume that there is no such thing as friction, and the accuracy of his prediction will give him no cause for regret. Ask an economist to predict the effects of a rise in the gasoline tax. He will assume that all people are rational and give you a pretty accurate response.”

- Steven E. Landsburg The Armchair Economist p. 10


The price system, efficient resource allocation by consumers, firms, and government; perfect and imperfect competition; government regulation; ethics and the marketplace; business applications. Prerequisites: Econ 130 or both Econ 120 and 121; and either Math 160 or 165 or 180.


Microeconomics: Theory and Applications
Browning and Zupan Tenth Edition
ISBN: 978-0-470-12891-6

Study guide: ISBN: 978-0-470-42949-5


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